“Goldman Sachs and Merrill Lynch employees discussed helping naked short-sales by market-maker clients in e-mails the banks sought to keep secret.”

Four media organizations, including Bloomberg LP, the New York Times, Wenner Media and The Economist, intervened in the Overstock case and joined the company’s request to unseal court files. Bloomberg News obtained a copy of the March 1 filing describing the e-mails. The document was filed by attorneys for Goldman Sachs and Merrill as an exhibit to another filing, said Karl Olson, an attorney for Bloomberg and other news outlets.

It’s time to go after JP Morgan for naked short selling of Silver and Gold.

New:

42 comments on ““Goldman Sachs and Merrill Lynch employees discussed helping naked short-sales by market-maker clients in e-mails the banks sought to keep secret.”
  1. Sleep Well Silver says:

    JP has 1 trillion in customer deposits and 1 trillion in assets (they say at who,s book value) and 80 to 100 trillion in liabilities .

    What else could Jamie and his boss due?

  2. MirrorMirror says:

    Poor old Overstock …took’em 6 years of ZERO progress to get this far !

    Islamic Banking : Without interest to Paradise

    http://translate.google.com/translate?sl=de&tl=en&js=n&prev=_t&hl=de&ie=UTF-8&layout=2&eotf=1&u=http%3A%2F%2Fwww.tvspielfilm.de%2Ftv-programm%2Fsendung%2Fohne-zins-ins-paradies%2C107029282523.html

    Just watching a German TV Documentary … excellent report.

    Worldwide, most people of the Muslim faith in Southeast Asia.Indonesia alone has 240 million believers, the most populous Islamic country. Although religion is compared to the much more liberal Arab states here and appears less present in everyday life, but especially the religious-minded banking – ‘Islamic banking’ – recorded growth rates that Western banks can only dream of. The prohibition of interest, the requirement to invest in real existing values and prohibit transactions with pork, weapons, gambling and pornography are completely, the cornerstone of this model. ………..

    Money is “lent” by the state to the poor … interest free of course !
    The report shows how the poor are getting their feet on the ground and progressing very well.
    The poor are well acquainted with the fact that it was the “interest” on loans that impoverished them in the first place ( many migrated from other countries ).

    All sounds very similar to the Gadaffi regime’s system : http://libyasos.blogspot.de/p/gaddafi.html
    … before NATO opened a Western Style Central Bank of course !

    The Indonesia Govt. are developing the Islamic Banking System in parallel to the conventional Western Banking system.

    FWIW

  3. JonnyJames says:

    Shareholders vote to retain Jamie Dimon as CEO and retain $23 million/year pay packet.

    http://www.latimes.com/business/money/la-fi-mo-jpmorgan-dimon-chairman-20120515,0,2674432.story

  4. Micky says:

    Never never listen to what Goldman has to say!

    http://jamesturkblog.blogspot.ca/

  5. SpaceMonkey says:

    Isn’t this the sort of shit that cause Bankers Trust to fold…?

  6. Jayme says:

    Crony Capitalism: After Lobbying Against New Financial Regulations, JPMorgan Loses $2B in Risky Bet
    http://www.democracynow.org/2012/5/15/crony_capitalism_after_lobbying_against_new

    Ex-Financial Regulator William Black: Austerity is Sinking Economies from Europe to U.S.
    http://www.democracynow.org/2012/5/15/ex_financial_regulator_william_black_austerity

  7. Youri Carma says:

    Let the whitewash begin:

    FBI launches JPMorgan probe, shareholders back Dimon

    And what about MF Global FBI?

  8. Youri Carma says:

    JPMorgan’s Specific Trades Weren’t Monitored, Regulator Says

    Come to think of it, the FBI is going into JPM just to make sure that their drugmoney is safe. “Obama has assets in JPMorgan accounts: White House”

  9. Youri Carma says:

    Dimon Survives Votes on Pay, Chairmanship http://www.youtube.com/watch?v=o-JhmYgSr4EJamie couldn’t know every single trade that’s going on

    LOlz TWO FREAKIN’ BILLION DOLLARz and probably more ahaahahah! Like Hitler losing Stalinggrad and saying: “He couldn’t know every military maneuvre going on”
    Hitler, speech about Stalingrad http://www.youtube.com/watch?v=gsjpqviFC9k

    THIS IS WHAT YOU WANT THIS IS WHAT YOU GET http://www.youtube.com/watch?v=-Owzkqbmo6s

  10. Youri Carma says:

    U.S. Soldiers Grow Opium/Heroin Poppy in Afganistan – Fox News http://www.youtube.com/watch?v=aj-b3pB6M7s

    US/NATO Troops Patrolling Opium Poppy Fields in Afghanistan http://publicintelligence.net/usnato-troops-patrolling-opium-poppy-fields-in-afghanistan/

  11. Jayme says:

    With a $23 million compensation package, Jamie Dimon earns over $11000/hr. His 5 minute interview cost about $1000.

  12. Youri Carma says:

    Is The Pain Over For Bruno Iksil?

    Japan’s WTF Chart

    Doesn’t keep them from eyeing stimulus:”Japan’s Growth Seen Peaking as BOJ Pressed to Stimulate” (see link above)

  13. susan says:

    @MirrorMirror

    It’s input like that (info on the Islamic banking model) which keeps me reading the comments on this site.

    Many thanks. Busy in the real world lately, growing food and all!

  14. Youri Carma says:

    Blyth must be angry, shorting the hell outoff silver & gold http://www.goldprice.org/spot-gold.html

    Once she’s done it’s our turn …..

  15. Youri Carma says:

    Gold just bounced off $1,533/oz http://www.goldprice.org/spot-gold.html

  16. Youri Carma says:

    9/11 TRUTH: Jewish Ex-Marine SPEAKS OUT on Israeli Involvement (MUST WATCH) http://www.youtube.com/watch?v=wq2pGd9ViUM

  17. kdt says:

    @mirror mirror they calculate a “fee” as a % of the loan add it to the principle then charge the borrower that amount over time .it gets them around a the definition of “usury”the Quran ….uses. i’m not shure how difrent it would be to the western model for the borrower.

  18. kdt says:

    @youri he is throwing mud in the watters, he is MIXING the israeli agents(real) with tower 7 (the side away from the vidio looks like the edward r murrow bldg. after the bombing in oklahoma city) and secondary explosions(just becaus it went BOOM and stuff cracked at ground level dose not mean” bomb” there were shock waves propagating through out the structure for four min. after impact one would expect loud booms as the joints shattered) the mixing is to “discredit” through gilt by association in the public mind the idea the israeli gov. had any thing to do with it . those buildings had reached there “working life expectancy” they were going to have to demo them or retro fit them one or the other. like any ‘bolted’ structure subjected to wind stress like an” air frame” they needed all the joints retorked , there was no real way to do this welding was going to be needed and lotts of it! they were “money pits” in other words, and worth less than the insurence pay outs it was just busness its all in the math and look at the amount of ecnomic acctivity it generated. always remember damage estimates= value of NEW construction available to lend to…………

  19. MirrorMirror says:

    @KDT …. fee == hidden usury

    It’s not quite that simple, there are many forms for different people/purposes … but most importantly , interest ( & therefore cumulative ) is banned in most cases .

    Here’s a small piece :

    In an Islamic mortgage transaction, instead of loaning the buyer money to purchase the item, a bank might buy the item itself from the seller, and re-sell it to the buyer at a profit, while allowing the buyer to pay the bank in installments. However, the bank’s profit cannot be made explicit and therefore there are no additional penalties for late payment. In order to protect itself against default, the bank asks for strict collateral. The goods or land is registered to the name of the buyer from the start of the transaction. This arrangement is called Murabahah.

    http://en.wikipedia.org/wiki/Islamic_banking

  20. Daniel says:

    Hey, wanna send Facebook and Google under? Just get AdBlock Plus or a similar ad-blocker in your Firefox Browser. Kills all the ads – a pitty for Zuckerberg. If just 10% of users got AdBlock Plus or a similar program, it would be enough to send Facebook under, as well as Google.

  21. MirrorMirror says:

    @susan … Islamic Banking / My pleasure .

    @ “growing food and all”

    Was just thinking the same – not so much because of possible collapse, but because I’m fed up with the “tasteless” industrial tomatoes .. and was thinking last night of starting to grow them myself. The plum-tomatoes “looked” very good ( my wife bought them ) , but they were utterly tasteless.
    I sometimes go out myself to do the shopping, because when I buy fruit or vegetables, I always “smell” them first before buying… and I get it normally 95% right !
    FWIW

  22. MirrorMirror says:

    BTW…

    .. I thought this was interesting :

    Stop Wasting Time on Crappy People
    http://www.vlogolution.com/hot/2012-05-15-stop-wasting-time-on-crappy-people/?utm_source=feedburner&utm_medium=email&utm_campaign=Feed%3A+momoney+%28moMoneyTV.com+Video+Blog%29

    Alexander Morris has done some great Youtube videos in the past .
    He runs the channel wit his girlfriend ; this is his section :

    http://www.vlogolution.com/hot/channels/passmethepork/

    http://www.vlogolution.com/hot/channel-archives/

    Here’s one of the many oldies (2008):

    HOW TO CHEAT YOUR WAY TO $$$BILLIONS!
    http://www.youtube.com/watch?v=ytEj2RTrAEw

    .

  23. Harry says:

    See the Dutch language article at http://www.telegraaf.nl/overgeld/12142643/___Armoedeval_op_de_loer___.html to see what impact the proposed austerity has (for one year!) . It’s quite devastating for the buying power of the common people.
    And all this was necessary for the 3% mantra of the EU and that was because of decades of financial stupidity.
    I don’t need ‘growth’. I need stability.

  24. MirrorMirror says:

    Another one from ALexander Morris from vlogolution , 14.09.2008 :

    STEALING TRILLIONS TO MAKE A FEW MILLIONS

    http://www.youtube.com/watch?v=UG8RLZn678I

    6 mins.

    .

  25. Youri Carma says:

    Victoria Grant, 12, Hits Lecture Circuit To Explain How Canadian Banking Is A Fraud (VIDEO) http://www.huffingtonpost.ca/2012/05/15/victoria-grant-12-canadian-banking_n_1518953.html

    Youtube link: (Doesn’t work for some people including myself) http://www.youtube.com/watch?v=Bx5Sc3vWefE

    Vimeo works for sure: http://vimeo.com/41954094

  26. The Silver Junkie says:

    Obama says “JPMorgan is one of the best managed banks there is”
    http://www.reuters.com/article/2012/05/15/us-jpmorgan-obama-idUSBRE84E04720120515
    Obama works for the Federal Reserve Banksters
    JPMorgan is a part of the Federal Reserve Banksters
    Time to: sell your silver &
    “Buy JPMorgan stocks, Crash JPMorgan”
    Money well spent. LOL

  27. Youri Carma says:

    Farmland values surge, up 25% in US plains

    Retail sales in the U.S. cool off in April

    Gasoline drop keeps consumer prices flat in April

    Core Inflation Accelerated 2.3% y-o-y
    Underlying inflation is something the Fed can worry about, however, and that shows no signs of deceleration. Core inflation — excluding volatile food and energy prices — rose 0.2% in April for the eighth time in the past 11 months. On a year-over-year basis, core inflation has accelerated to a 2.3% increase from 1.3% in April 2011.

  28. Harry says:

    @Youri: thanks for the Jewish Ex-Marine video.
    So we can assume that the zionists suppress any attempt at re-examination of the facts w.r.t. building 7, the twin towers and the other happening.
    This implies that at least part of the US state is non-functional in certain cases. (!)
    Same treatment for (jewish) bankers?
    Hmmm. I wonder what that will do to U.S. feelings about jews in general.

  29. daddy warbucks says:

    Gary Gensler of the CFTC should have the spotlight on him until he decides to do his job or gets fired and indicted as an accomplice to the fraud and manipulation.

  30. Wolferl says:

    OMG, over at BI they say Gold is in a bear market. But, but, wasn´t Gold supposed to go up till the end of times and even longer?

    http://www.businessinsider.com/its-official-gold-is-in-a-bear-market-2012-5

  31. CBC’s Neil MacDonald Nails it again with this “too big to fail” commentary

    http://www.cbc.ca/news/world/story/2012/05/15/f-rfa-macdonald-banks.html

  32. Apocalypto says:

    Regulate America’s banks? Sure, right after the Fed gives up its control on the money supply, the MIC hands in its guns and Israel gives up its control over American politics and culture. In other words, ain’t gonna happen.

  33. kdt says:

    @mm it seems to be a bit more honest a system than the mess we have in the west. at least some one has to come to the table with real savings to lend to make it work. or pretent to any way………………..i may have crossed some sort of cynicality inflection point last year. sry. cant seem to beleeve any one who lends money is not trying to rip off the public some how

  34. kdt says:

    @youri the farm property values will crash the farmers have no reason to expand operations this year and in fact are investing in onsite storage not new acerage . and will not be planting beond what they can store themselves + what they can sell at harvest for CASH! this is all fall out from mf global. i just read a story yesterday on the cattle industry and how “healthy” it is the piece interviewed a rancher in his mid fifties who talked about how much the price for calves had gone up (100%) from last year to this becaus the heards nation wide are half as big (culled last year right after mf global went down)and he is planing more vacations becaus he does not need to be around as much with half as many animals to tend to and lets face it I’m not geting any younger as he put it…………………..there are too many bad signs in that to count ,not for him and his old lady, but for us as a nation the actions of the ptb have cut the beef heard in HALF if the rest of the ag industry has done the same things are giong to get MUCH worse very soon. the shit storm cometh

  35. kdt says:

    @youri on the 911 thing the whole asumption that explosive demolition was used egnores the fact the explosive demo has only ever been used for ‘concreet reinforced” structures not steel frame wich all the trade center buildings were. not saying you could not demo a steel frame that way, just that no one hat ever done it EVER so we do not know:
    1) if it will work
    2)how it would work
    or
    3)what it would look like in use
    just becaus the colapses LOOKED like explosive demo dose not mean it was! they “fell” gravity dose that to every thing that “goes up”, to draw any thing more from it is to guess

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